Actuarial Associate
About The Position
Actuarial Associates are members of the Actuarial Development Program which provides a broad set of work experience, full Society of Actuaries exam support, the development of communication and leadership skills, and the opportunity for mentoring and networking. It is a rotational program that typically has 3 rotations of 12 – 24 months, where the Actuarial Associate will acquire and apply skills to provide actuarial and related assistance with respect to capital adequacy/financial strength, experience studies, actuarial modeling, asset liability management (ALM), valuation, retirement plan support, pricing, product development, development, pricing, non-guaranteed element determination and other business functions. Exam support will include paid study time and exam materials, automatic salary increases with passed exams, and first-time pass bonuses.
Requirements
- No Experience Required
- University (Degree) Preferred
- Technical skills, e.g. Excel, VBA, and PowerPoint
- Strong communication and problem-solving skills
- Leadership potential
- Completion of any Society of Actuaries (SOA) exams
Nice To Haves
- Related Skills Accountability, Actuarial Science, Business Acumen, Collaboration, Communication, Continuous Improvement Mindset, Executive Presence, Financial Acumen, Financial Modeling, Problem Solving, Relationship Management, TIAA Products/Services Acumen
Responsibilities
- Acquire and apply actuarial skills to perform the following functions:
- Actuarial/risk analyses with respect to the company's actuarial liabilities and capital position to ensure adequate financial strength of annuity and life insurance product lines, as well as overall financial strength of the company.
- Experience studies and assumption development for the annuity and life insurance lines of business.
- Asset and liability modeling and analyses of annuity and life insurance lines of business including financial projections and stress testing.
- Various ALM projects such as economic scenario generation, duration analysis, and interest rate stress testing.
- Valuations of actuarial reserves and liabilities.
- Asset adequacy testing and analyses of annuity and life insurance lines of business.
- Development of annuity products and policyholder illustrations; determination of non-guaranteed elements such as crediting rates and dividend scales.
- Other business functions include plan pricing support, risk management and potentially others.
Benefits
- superior retirement program
- highly competitive health, wellness and work life offerings
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
Associate degree
